Transfers

I have a pension pot with another provider. I want to take 25% tax-free cash and transfer the rest into my People’s Pension account – is this possible?

  No, we can only accept full fund transfers. If you take the 25% tax-free cash from the other pension …

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Is there an age restriction on transferring in or out of The People’s Pension?

  No, there’s no age restriction. A transfer can be made at any time.

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Can I transfer my pension pot into my savings account?

  No. You can only ever transfer money from a registered pension scheme to another registered pension scheme or a …

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Can I transfer out to a Self-Invested Personal Pension (SIPP) or a Small Self-Administered Scheme (SSAS)?

  You can transfer out to any type of UK pension arrangement, as long as it’s a registered pension scheme …

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Are there any charges or penalties for transferring my pension pot to another company?

No. Should you wish to transfer your accumulated pension pot to another pension provider we won’t apply any penalties for …

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How much will I pay in charges if I transfer my pensions to you?

We don’t charge any administration fees for you to transfer pension savings into your pension pot with us, however some …

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If I transfer my pension savings with The People’s Pension to another provider, would a Market Value Reduction (MVRs/Market Value Adjustment (MVA) apply?

  No, MVR/MVA’s only relate to ‘With Profits’ pensions. If a policy is surrendered or transferred before the normal retirement …

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If I take a partial lump sum payment and later transfer the remainder of my pot to another provider, do you inform the new provider I’ve accessed my pot?

  Yes, we’ll inform the provider that you’ve flexibly accessed your pension pot.

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Can you accept a transfer from an overseas scheme?

  Yes, providing it’s a Qualifying Recognised Overseas Pension Scheme (QROPS) and the funds are sent to us in pounds …

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Can I transfer my pension pot to an overseas pension scheme?

Yes, transfers can be made from The People’s Pension to a Qualifying Recognised Overseas Pension Scheme (QROPS) at your request. …

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